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jobs by the hundreds of thousands in the 1960s and early '70s, the largest industrial cluster in the u.s. in the 1950s was not automobile production in detroit, it was garment production in new york city, and that sector was decimated by globalization and new technology. the city had been caught in a spiral of disorder, rising crime rates, racial conflict just like here in boston, and the fiscal situation had gotten out of control with budgets that were far too high for the city to afford. it looked as if new york was going to go back to the weeds, right? this is an image of jimmy carter wandering through the wasteland that the south bronx had become, and it really seemed as if the planet of the apes image of the statue of liberty rising from the sand, that that was plausible. that, in fact, these cities were things, you know, whose time had come and gone. in part, the future of the city seemed so dim because their original reasons for being had largely disappeared. if you think about every one of america's older, colder cities, they were all part of solving a transportation problem. the
an investment banker and then he became u.s. budget director under president clinton. people were talking about him as a possible treasury secretary. at fannie mae, raines carried on with the fast growth policies of jim johnson. the clinton administration aide him on. in july 1999, hud secretary announced an effort he would increase the percentage of their mortgage financing that went to low or moderate income families, to 50% in 2001, from 42% that was set back in 1995. cuomo said these new rules would provide affordable housing for 28.1 million families over the next decade. think about it. cuomo could promise to create 28.1 million homeowners without asking congress to spend a single penny. he simply told fannie and freddie to go out and do it, and they said we would be delighted. you remember how jesus spent the 5000. well, cuomo housed the 28.1 million. rains also have ambitious goals for-profits. he set a goal of doubling earnings to $6.46 per share in five years. is $6.46 was taken very strictly by his team. this is a peptalk from a senior vice president at fannie mae. find out everyone
and his cfo explaining the dubious accounting in congress. was he to blame? last month u.s. district judge dismissed shareholders' lawsuit against rains. the judge found no direct evidence rain the new accounting rules have been violated. when raines was fired at the end of 2004 there was a huge upheaval at fannie mae. a couple thousand consultants were hired to string out the books. the total cost including fines was more than $2 billion but there was a bigger cost. executors' and regulators spend so much time worried about accounting they did not have enough time to worry about the housing market. housing prices were soaring to crazy levels even for houses like this. everyone was refinancing mortgages, lending standards became incredibly lax and everybody thought they could make a killing on real-estate. even the playmate of a month from may of 2005, jamie west and kaiser --westenheiser was going into investment tight real-estate. one financial magazine later commented, moving from one set of inflated assets to another. amid this dangerous period fannie appointed a new ceo, dan mud, son
the u.s. house of representatives." do you look for the books when they come out by members of congress or politicians? >> guest: i mean, i certainly note them, but i feel as if, at least from my stand point, that the books are a way to entrench members of congress, not just in their positions, but, also, potentially, to position them for future runs be it within their current offices or maybe something different so it seems as if it's more of a calling card than it is furthering their career as authors. certainly, being authors of books is yet another feather in the cap of politicians so it's just a way of announcing to the larger public that they are part of the larger conversation. .. >> we paid attention to the mark rubio book when he was touted as the vice presidential candidate then we lost interest. he has a future in the republican party. it will come back. >> host: well known for members and officials have written books including colin powell, madeleine albright another book "prague winter" and the late senator arlen specter had a book out in april 2020 -- 2012 "life among the
're talking about. actually bashing liberals. u.s. for specifics and it's clear that she had not read the book. you can't argue with the liberal when they don't even want to show up to do the homework. anyway, i kept going okay, this is a journalist. i feel like blah, blog, blog. so i'm going okay i think it's only the liberals that they like. i might be wrong but i said to her, i go it's weird. you keep saying how do you feel as opposed to what do you think? don't you think that is strange when you're interviewing an author about a book? isn't that weird? she did not have an answer for me. we we are seeing each other later. [laughter] she sounded cute. i am kidding. it was weird though. what was funny was, she asked me, she said to me, you transitioned from a magazine. what do they have in common? i said you know, the most important thing when you are a reporter you prepare. [laughter] you have a list of questions and read up on the person. anything, magazines, books, that is what you do. i don't think she even knew that i was talking to her. it was really good. aye this would be good advice.
Search Results 0 to 4 of about 5